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Midas Edge

CONNECTICUT LIGHT & POWER CO

For the period ended Jun 30, 2026. Filed Aug 3, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 3, 2026

ES$69.49-0.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Statements of Cash Flows

For the Six Months Ended June 30,
(Thousands of Dollars)20262025
Operating Activities:
Net Income$269,545$294,877
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation224,775214,396
Deferred Income Taxes(27,425)(34,392)
Uncollectible Expense9,84210,118
Pension, SERP, and PBOP Income, Net(9,214)(7,079)
Regulatory Over/(Under) Recoveries, Net67,550(101,300)
Amortization of Regulatory Assets, Net202,095418,033
Cost of Removal Expenditures(28,013)(33,705)
Other10,7118,996
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net10,050(626)
Taxes Receivable/Accrued, Net(159,800)56,582
Accounts Payable(119,101)(97,388)
Other Current Assets and Liabilities, Net46,89425,100
Net Cash Flows Provided by Operating Activities497,909753,612
Investing Activities:
Investments in Property, Plant and Equipment(511,487)(438,153)
Net Cash Flows Used in Investing Activities(511,487)(438,153)
Financing Activities:
Cash Dividends on Common Stock(176,800)(330,000)
Cash Dividends on Preferred Stock(2,779)(2,779)
Issuance of Long-Term Debt—400,000
Increase/(Decrease) in Notes Payable to Eversource Parent107,000(280,000)
Other Financing Activities(911)(4,520)
Net Cash Flows Used in Financing Activities(73,490)(217,299)
Net (Decrease)/Increase in Cash and Restricted Cash(87,068)98,160
Cash and Restricted Cash - Beginning of Period88,6762,109
Cash and Restricted Cash - End of Period$1,608$100,269
(Thousands of Dollars)As of June 30, 2026As of December 31, 2025
ASSETS
Current Assets:
Cash$15,356$8,302
Receivables, Net (net of allowance for uncollectible accounts of $141,099 and $132,561 as of June 30, 2026 and December 31, 2025, respectively)591,679616,280
Accounts Receivable from Affiliated Companies134,956280,099
Unbilled Revenues55,52056,948
Materials, Supplies and REC Inventory185,871210,865
Regulatory Assets1,056,092978,754
Derivative Assets115,11491,011
Prepayments and Other Current Assets26,55090,040
Total Current Assets2,181,1382,332,299
Property, Plant and Equipment, Net15,911,98815,308,896
Deferred Debits and Other Assets:
Regulatory Assets1,543,2971,823,522
Prepaid Pension and PBOP832,749804,109
Other Long-Term Assets288,315264,073
Total Deferred Debits and Other Assets2,664,3612,891,704
Total Assets$20,757,487$20,532,899
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable$63,000$245,445
Long-Term Debt – Current Portion700,000300,000
Accounts Payable566,975558,227
Accounts Payable to Affiliated Companies126,697198,085
Obligations to Third-Party Suppliers164,749179,757
Regulatory Liabilities775,303650,813
Other Current Liabilities175,456208,979
Total Current Liabilities2,572,1802,341,306
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes2,158,6862,087,287
Regulatory Liabilities1,728,2951,702,059
Derivative Liabilities390,341753,149
Other Long-Term Liabilities418,630401,625
Total Deferred Credits and Other Liabilities4,695,9524,944,120
Long-Term Debt5,641,8465,645,638
Preferred Stock Not Subject to Mandatory Redemption43,00043,000
Common Stockholder's Equity:
Common Stock——
Capital Surplus, Paid In4,496,8424,238,842
Retained Earnings3,307,4953,319,768
Accumulated Other Comprehensive Income172225
Common Stockholder's Equity7,804,5097,558,835
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization$20,757,487$20,532,899
For the Three Months Ended June 30,For the Six Months Ended June 30,
(Thousands of Dollars)2026202520262025
Operating Revenues$937,889$868,925$2,068,977$1,883,152
Operating Expenses:
Purchased Power and Transmission227,137225,716537,295534,662
Operations and Maintenance190,038168,365386,708342,503
Depreciation119,969109,331239,306217,346
Amortization of Regulatory Assets, Net15,26315,43589,97967,719
Energy Efficiency Programs85,00944,258193,262107,697
Taxes Other Than Income Taxes83,91276,187159,621152,024
Total Operating Expenses721,328639,2921,606,1711,421,951
Operating Income216,561229,633462,806461,201
Interest Expense72,43655,407152,712114,627
Other Income, Net54,09847,715105,78394,009
Income Before Income Tax Expense198,223221,941415,877440,583
Income Tax Expense44,46653,01296,170104,479
Net Income$153,757$168,929$319,707$336,104

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For the Three Months Ended June 30,For the Six Months Ended June 30,
(Thousands of Dollars)2026202520262025
Net Income$153,757$168,929$319,707$336,104
Other Comprehensive Loss, Net of Tax:
Changes in Funded Status of SERP Benefit Plan(31)(5)(63)(12)
Qualified Cash Flow Hedging Instruments551010
Other Comprehensive Loss, Net of Tax(26)—(53)(2)
Comprehensive Income$153,731$168,929$319,654$336,102

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

For the Six Months Ended June 30, 2026
Common Stock · CapitalSurplus,Paid In · RetainedEarnings · AccumulatedOtherComprehensiveIncome · TotalCommonStockholder'sEquity
(Thousands of Dollars, Except Stock Information) · Stock · Amount
Balance as of January 1, 2026200$—$4,238,842$3,319,768$225$7,558,835
Net Income165,950165,950
Dividends on Preferred Stock(490)(490)
Capital Contributions from Eversource Parent258,000258,000
Other Comprehensive Loss(27)(27)
Balance as of March 31, 2026200—4,496,8423,485,2281987,982,268
Net Income153,757153,757
Dividends on Preferred Stock(490)(490)
Dividends on Common Stock(331,000)(331,000)
Other Comprehensive Loss(26)(26)
Balance as of June 30, 2026200$—$4,496,842$3,307,495$172$7,804,509
For the Six Months Ended June 30, 2025
Common Stock · CapitalSurplus,Paid In · RetainedEarnings · AccumulatedOtherComprehensiveLoss · TotalCommonStockholder'sEquity
(Thousands of Dollars, Except Stock Information) · Stock · Amount
Balance as of January 1, 2025200$—$3,788,842$3,127,105$(141)$6,915,806
Net Income167,175167,175
Dividends on Preferred Stock(490)(490)
Dividends on Common Stock(436,000)(436,000)
Capital Contributions from Eversource Parent100,000100,000
Other Comprehensive Loss(2)(2)
Balance as of March 31, 2025200—3,888,8422,857,790(143)6,746,489
Net Income168,929168,929
Dividends on Preferred Stock(490)(490)
Balance as of June 30, 2025200$—$3,888,842$3,026,229$(143)$6,914,928
For the Six Months Ended June 30,
(Thousands of Dollars)20262025
Operating Activities:
Net Income$319,707$336,104
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation239,306217,346
Deferred Income Taxes48,54421,446
Uncollectible Expense15,60414,002
Pension, SERP and PBOP Income, Net(22,439)(19,942)
Regulatory (Under)/Over Recoveries, Net(32,099)52,121
Amortization of Regulatory Assets, Net89,97967,719
Cost of Removal Expenditures(24,095)(49,103)
Other(32,994)(3,324)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net158,212(107,269)
Taxes Receivable/Accrued, Net52,3351,038
Accounts Payable(127,987)(55,534)
Other Current Assets and Liabilities, Net(57,945)(80,994)
Net Cash Flows Provided by Operating Activities626,128393,610
Investing Activities:
Investments in Property, Plant and Equipment(773,806)(775,162)
Net Cash Flows Used in Investing Activities(773,806)(775,162)
Financing Activities:
Cash Dividends on Common Stock(331,000)(436,000)
Cash Dividends on Preferred Stock(980)(980)
Issuance of Long-Term Debt700,000800,000
Retirement of Long-Term Debt(300,000)—
Capital Contributions from Eversource Parent258,000100,000
Decrease in Notes Payable(182,445)(74,782)
Other Financing Activities(5,230)(9,110)
Net Cash Flows Provided by Financing Activities138,345379,128
Net Decrease in Cash and Restricted Cash(9,333)(2,424)
Cash and Restricted Cash - Beginning of Period25,9449,023
Cash and Restricted Cash - End of Period$16,611$6,599
(Thousands of Dollars)As of June 30, 2026As of December 31, 2025
ASSETS
Current Assets:
Cash and Cash Equivalents$56,074$13,665
Receivables, Net (net of allowance for uncollectible accounts of $24,931 and $23,547 as of June 30, 2026 and December 31, 2025, respectively)219,539214,117
Accounts Receivable from Affiliated Companies21,16824,338
Unbilled Revenues55,00262,446
Materials, Supplies and REC Inventory78,68258,879
Regulatory Assets142,236119,871
Special Deposits34,41838,343
Prepayments and Other Current Assets28,80319,212
Total Current Assets635,922550,871
Property, Plant and Equipment, Net5,632,5135,507,663
Deferred Debits and Other Assets:
Regulatory Assets821,386841,203
Prepaid Pension and PBOP118,512111,833
Other Long-Term Assets25,84717,661
Total Deferred Debits and Other Assets965,745970,697
Total Assets$7,234,180$7,029,231
LIABILITIES AND CAPITALIZATION
Current Liabilities:
Notes Payable to Eversource Parent$2,100$49,300
Rate Reduction Bonds – Current Portion43,21043,210
Accounts Payable166,674179,137
Accounts Payable to Affiliated Companies31,78145,277
Obligations to Third-Party Suppliers36,62437,584
Renewable Portfolio Standards Compliance Obligations33,28820,730
Accrued Interest37,06135,224
Regulatory Liabilities150,745118,443
Other Current Liabilities32,62741,604
Total Current Liabilities534,110570,509
Deferred Credits and Other Liabilities:
Accumulated Deferred Income Taxes824,718806,270
Regulatory Liabilities432,400417,442
Other Long-Term Liabilities49,18546,669
Total Deferred Credits and Other Liabilities1,306,3031,270,381
Long-Term Debt2,234,4862,031,323
Rate Reduction Bonds259,257280,862
Common Stockholder's Equity:
Common Stock——
Capital Surplus, Paid In1,973,1341,973,134
Retained Earnings926,890903,022
Common Stockholder's Equity2,900,0242,876,156
Commitments and Contingencies (Note 9)
Total Liabilities and Capitalization$7,234,180$7,029,231
For the Three Months Ended June 30,For the Six Months Ended June 30,
(Thousands of Dollars)2026202520262025
Operating Revenues$333,940$303,133$717,457$651,114
Operating Expenses:
Purchased Power and Transmission65,70439,269154,899119,276
Operations and Maintenance67,28866,995128,827138,005
Depreciation44,97241,26989,41181,771
Amortization of Regulatory Assets, Net8,24926,82934,89947,665
Energy Efficiency Programs7,82410,54218,31322,745
Taxes Other Than Income Taxes28,44327,21355,72952,998
Total Operating Expenses222,480212,117482,078462,460
Operating Income111,46091,016235,379188,654
Interest Expense26,69920,50355,31641,073
Other Income, Net10,35813,72520,86124,484
Income Before Income Tax Expense95,11984,238200,924172,065
Income Tax Expense23,12820,32349,15641,871
Net Income$71,991$63,915$151,768$130,194

CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCKHOLDER'S EQUITY

For the Six Months Ended June 30, 2026
Common Stock · CapitalSurplus,Paid In · RetainedEarnings · TotalCommonStockholder'sEquity
(Thousands of Dollars, Except Stock Information) · Stock · Amount
Balance as of January 1, 2026301$—$1,973,134$903,022$2,876,156
Net Income79,77779,777
Dividends on Common Stock(38,900)(38,900)
Balance as of March 31, 2026301—1,973,134943,8992,917,033
Net Income71,99171,991
Dividends on Common Stock(89,000)(89,000)
Balance as of June 30, 2026301$—$1,973,134$926,890$2,900,024
For the Six Months Ended June 30, 2025
Common Stock · CapitalSurplus,Paid In · RetainedEarnings · TotalCommonStockholder'sEquity
(Thousands of Dollars, Except Stock Information) · Stock · Amount
Balance as of January 1, 2025301$—$1,898,134$808,668$2,706,802
Net Income66,27966,279
Capital Contributions from Eversource Parent75,00075,000
Balance as of March 31, 2025301—1,973,134874,9472,848,081
Net Income63,91563,915
Dividends on Common Stock(175,000)(175,000)
Balance as of June 30, 2025301$—$1,973,134$763,862$2,736,996
For the Six Months Ended June 30,
(Thousands of Dollars)20262025
Operating Activities:
Net Income$151,768$130,194
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities:
Depreciation89,41181,771
Deferred Income Taxes14,69013,943
Uncollectible Expense2,6272,447
Pension, SERP and PBOP Income, Net(5,230)(4,444)
Regulatory Under Recoveries, Net(5,870)(36,271)
Amortization of Regulatory Assets, Net34,89947,665
Cost of Removal Expenditures(11,617)(16,545)
Other(6,052)(13,837)
Changes in Current Assets and Liabilities:
Receivables and Unbilled Revenues, Net1,183(16,547)
Taxes Receivable/Accrued, Net(4,009)(3,076)
Accounts Payable(10,963)6,151
Other Current Assets and Liabilities, Net(19,936)483
Net Cash Flows Provided by Operating Activities230,901191,934
Investing Activities:
Investments in Property, Plant and Equipment(197,386)(275,508)
Net Cash Flows Used in Investing Activities(197,386)(275,508)
Financing Activities:
Cash Dividends on Common Stock(127,900)(175,000)
Capital Contributions from Eversource Parent—75,000
Issuance of Long-Term Debt200,000300,000
Repayment of Rate Reduction Bonds(21,605)(21,605)
Decrease in Notes Payable to Eversource Parent(47,200)(95,800)
Other Financing Activities1,674(1,627)
Net Cash Flows Provided by Financing Activities4,96980,968
Net Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash38,484(2,606)
Cash, Cash Equivalents and Restricted Cash - Beginning of Period55,18637,243
Cash, Cash Equivalents and Restricted Cash - End of Period$93,670$34,637
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.